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REGISTERED NUMBER:
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SYSTAL TECHNOLOGY SOLUTIONS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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REGISTERED NUMBER:
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SYSTAL TECHNOLOGY SOLUTIONS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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SYSTAL TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC345442) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 8 |
SYSTAL TECHNOLOGY SOLUTIONS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Citypoint 2 |
25 Tyndrum Street |
Glasgow |
G4 0JY |
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BANKERS: |
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56 Murray Place |
Stirling |
FK8 2BX |
SYSTAL TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC345442) |
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BALANCE SHEET |
31 DECEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
SYSTAL TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC345442) |
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BALANCE SHEET - continued |
31 DECEMBER 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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SYSTAL TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC345442) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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1. | STATUTORY INFORMATION |
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Systal Technology Solutions Limited is a private company, limited by shares, registered in Scotland. The |
company's registered number is SC345442 and its registered office is Rowan House, 1 Robroyston Oval, Nova |
Business Park, Glasgow, G33 1AP. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
The company depends on its existing bank facilities to meet its day to day working capital requirements. The |
company expects to be able to operate within these facilities for the whole of the foreseeable future. |
Accordingly, the directors believe it is appropriate to prepare the financial statements on the going concern |
basis. |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable. |
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Turnover represents the net invoiced sales of goods excluding value added tax from the provision of IT services. |
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Tangible fixed assets |
Depreciation of fixed assets is calculated to write off the cost or valuation less any residual value over their |
estimated useful lives as follows: |
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Plant and machinery etc | - Various rates on reducing balance and 10% on cost |
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Financial instruments |
Debtors |
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any |
irrecoverable amounts when there is objective evidence that the asset is impaired. |
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Cash at cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash on hand and cash at bank with a short term of |
maturity, being 12 months or less, from the opening of the deposit or similar account. |
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Creditors |
Bank loans and overdrafts, trade creditors, and other creditors due in less one year are all recognised where the |
company has a present obligation resulting from a past event and are recognised at the settlement amount due |
after allowing for any trade discounts due. |
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Other creditors due in more than one year do not carry any interest and are measured initially at fair value and |
are measured subsequently at amortised cost using the effective interest method. |
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Loans |
Loans, are measured initially at fair value, net of transactions costs, and are measured subsequently at amortised |
cost using the effective interest method. |
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SYSTAL TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC345442) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2018 |
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Additions |
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At 31 December 2018 |
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DEPRECIATION |
At 1 January 2018 |
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Charge for year |
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At 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts recoverable on contracts |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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SYSTAL TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC345442) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
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Bank loans |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank overdrafts |
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Hire purchase contracts | 119,263 | 148,714 |
Bank loans | 100,000 | 133,333 |
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The Clydesdale Bank PLC hold a Floating Charge over the assets of the company. |
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Hire purchase contracts are secured against the assets which the liability relates. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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"A" Ordinary shares of £1 | £1 | 150 | 150 |
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"B" Ordinary shares of £1 | £1 | 4 | 4 |
154 | 154 |
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10. | TOTAL COMMITMENTS |
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Non-cancellable operating leases - commitments over the remaining life of those leases fall due as follows: |
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2018 | 2017 |
£ | £ |
Within one year | 100,535 | 57,657 |
Between one and five years | 79,016 | 99,547 |
179,551 | 157,204 |
SYSTAL TECHNOLOGY SOLUTIONS LIMITED (REGISTERED NUMBER: SC345442) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 December 2018 and |
31 December 2017: |
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2018 | 2017 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
SYSTAL TECHNOLOGY SOLUTIONS LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Systal Technology Solutions Limited for the year ended 31 December 2018 which comprise the |
Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes |
from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
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This report is made solely to the Board of Directors of Systal Technology Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Systal Technology Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Systal Technology Solutions Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Systal Technology Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Systal Technology Solutions Limited. You consider that Systal Technology Solutions Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Systal Technology Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
Citypoint 2 |
25 Tyndrum Street |
Glasgow |
G4 0JY |
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